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That's a bad analogy, what's being compared is types of bike shops, not the concept of bike shops overall.
That said, all the shops you listed sell bikes that would be consider mid-range to lower-end as well as expensive rides. I grant that that can work with a focus on selling splashy stuff to people with money to throw around. What I don't think will work is a shop that has nothing but high-end stuff; perhaps that's not what this new store will do, but that was my understanding. People with money to throw around are ultimately not interested in buying high-performance carbon TT bikes, unless they are in which case they already have one.
nohwol
Businesses fail (or just close) all the time. Most new businesses fail. If the closure of one example business means the basic concept doesn't work, restaurants are clearly a bad idea doomed to extinction.
The examples I cited are more leisure bikes than hardcore roadie but still, overpriced and aiming at the well-heeled. As for Velorution's busines model, it can take several years to turn a viable business into a profitable one. Smart money knows that.